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Bel Roberto, the Senior Vice President and Chief Financial Officer of New Jersey Resources Corp (NYSE:NJR), recently sold a portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Roberto sold a total of 2,346 shares of common stock in two separate transactions on March 24, 2025. The utility company, which currently trades at an attractive P/E ratio of 14.3x and offers a 3.7% dividend yield, has maintained dividend payments for 55 consecutive years according to InvestingPro data. The shares were sold at a weighted average price within the range of $48.5711 to $48.5846, amounting to a total transaction value of $113,963.
Following these transactions, Roberto’s direct ownership of New Jersey Resources stock stands at 23,822 shares. The sales were conducted under a pre-established Rule 10b5-1 trading plan, which Roberto entered into on December 19, 2024. This type of plan allows company insiders to set up a predetermined schedule for selling stocks to avoid any potential conflicts of interest.
In other recent news, New Jersey Resources reported financial results that exceeded both Guggenheim and consensus estimates, primarily due to the sale of its residential solar business, Sunlight Advantage. Guggenheim analysts raised the company’s stock price target to $54, up from $53, while maintaining a Neutral rating. The company’s Clean Energy Ventures segment is performing well, and management plans to use proceeds from the solar sale to strengthen its balance sheet and support future growth. New Jersey Resources reaffirmed its net financial earnings per share guidance for 2025, which includes the gain from the asset sale, and expressed confidence in meeting this target. Guggenheim revised its full-year 2025 earnings per share estimate downward by $0.11, reflecting updated projections for the Clean Energy Ventures segment. Additionally, at its recent Annual Meeting, New Jersey Resources re-elected three directors to the board for another three-year term. Shareholders also approved a non-binding advisory resolution on executive compensation and ratified Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending September 30, 2025. The meeting had a strong turnout, with a significant majority voting in favor of the resolutions.
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